Grindrod Limited · JSE:GND
Grindrod — RMB Morgan Stanley Big Five Conference 2024
21 slides from Grindrod's conference presentation, Sep 19, 2024
Slide 1: RMB Morgan Stanley Big Five Conference
RMB MORGAN STANLE Y Big Five Conference 19 September 2024
Slide 2: Purpose and strategy
purpose andistPategy Ly as
Slide 3: Our purpose is to make a positive difference in Africa's trade with the world
Our P U R P O S E is to make a positive difference in Africa’s trade with the world, touching lives of the communities in which we operate.
Slide 4: Our strategy is to understand our customers' business as if it were our own
Our strategy is to understand our customers’ business as if it were our own and to deliver integrated cost-effective and efficient solutions to move the cargo to market.
Slide 5: Overview
TERMINALS LOGISTICS overview
Slide 6: Commodity price and container rates
O V E R V IE W Commodity price and container rates Copper 5% Iron ore fines 0% (4%) (2%) (5%) (24%) Spodumene (77%) Chrome 5% (18%) 19% 394% 46% Lithium (75%) Ferrochrome (6%) carbonate (41%) (2%) 339% (4%) Graphite (33%) Manganese 12% (19%) (10%) 44% 5% Containers (25%) Coal (23%) (49%) (55%) 43% 1
Slide 7: Interim performance overview
O V E R V IE W Interim performance overview Safety Operational Financial Capital allocation Port Core Cash generated Fatality volumes EBITDA * from operations 1 fatality 18% R1.0 billion 13% 6.9 million tonnes R425 million Drybulk terminal Core headline Interim ordinary LTIFR volumes earnings * divi
Slide 8: Port and terminals
PORT TERMINALS LoGISTICS es g a ¥ “4 5 \ : LSS haa port and terminals
Slide 9: Port and Terminals Operational overview
P O R T A N D T E R M IN A L S Port and Terminals I Operational overview Maputo port volumes grew 18% to 6.9mt § Rail handling at port enhanced by system integration with CFM § Technology enabled visualisation projects implemented Grindrod drybulk terminals volumes handled 8.4mt § Matola volumes rep
Slide 10: Port and Terminals Volume performance
P O R T A N D T E R M IN A L S Port and Terminals I Volume performance Port volumes Terminals volumes (mtpa) (mtpa) 12.6 17.7 17.5 9.8 14.9 7.7 6,70 6.7 9.0 9.4 5,30 5.3 H2 9.0 3,90 H1 CAGR 22% H1 CAGR 12% H2 3.9 6,94 6.9 5,90 5.9 8.7 8.1 8.4 3,80 4,50 4.5 H1 5.9 H1 3.8 22021 021 22022 022 22023 023
Slide 11: Slide 11
Slide 12: Logistics Operational overview
L O G IS T IC S Logistics I Operational overview § Ships agency and clearing and forwarding businesses achieved growth of 38% § Logistics impacted by lower container volume throughput § Structural reorganisation of the rail business complete § Repatriation of 13 locomotives from Sierra Leone complet
Slide 13: Finance: 2024 H1 results
TERMINALS LOGISTICS FINANCE 2024 H1 results } aa. . |
Slide 14: Financial review
2 0 2 4 H 1 R E S U LT S Financial review Port and Terminals Logistics Core 2024 H1 2023 H1 2024 H1 2023 H1 Rmillion Rmillion Rmillion Rmillion Revenue 1 453 1 483 2 214 1 668 EBITDA 482 576 536 497 EBITDA margin (%) 33 39 24 30 Headline earnings 398 393 178 172 Return on equity (%) 26 29 21 22 US D
Slide 15: Net debt (excluding joint ventures)
2 0 2 4 H 1 R E S U LT S Net debt (excluding joint ventures) Jun Dec Rmillion 2024 2023 Total debt 2 900 2 623 Less: cash Operational cash (1 278) (1 402) Ringfenced cash (1 120) (1 120) Net debt 502 101 Net debt to equity ratio (%) 5% 1% Net debt to equity ratio - proforma Matola terminal (%) 14% T
Slide 16: Matola terminal
: Matola ter rife IT f )
Slide 17: Matola Terminal: acquisition of remaining 35%
M AT O L A T E R M IN A L Acquisition of remaining 35% of Matola Taking TCM to 12 mtpa Purchase consideration New throughput agreement Planned capital expenditure Initial $55 million § Period of up to nine years $50 million - $60 million Deferred $22 million § 2.25 mtpa IRR - in excess of medium ris
Slide 18: Slide 18
Slide 19: Looking ahead cautiously
OUTLOOK Looking ahead cautiously MARKET OUTLOOK OPTIMISE OPERATIONS INFRASTRUCTURE SUSTAINABLE INVESTMENT SHAREHOLDER RETURNS Business fundamentals and commodity markets Unlock value and position for the future
Slide 20: Grindrod website
PORT TERMINALS LOGISTICS ‘www.grindrod.com - GRINDROD
Slide 21: Forward-looking statements
_TEMENTS yard-looking statements. All statements other than included in this presentation are or may be forward-looking ‘eflect management's current expectations, beliefs, hopes, ding the future and assumptions in light of currently available |-looking statements are subject to risks and uncertainti
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